1498 Silver Heights BlvdSilver City, NM 88061

Property Details for 1498 Silver Heights Blvd

Year built

1970

Lot size

2.08 AC

Property size (Sq ft)

29,260 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 29,260 square foot shopping center in Silver City, New Mexico, boasting a strong 9.00% capitalization rate and a Net Operating Income (NOI) of $148,807. The property, built in 1970 and situated on a 2.076-acre lot at 1498 Silver Heights Blvd (zip code 88061), features six tenants, with 96% occupancy. Over 85% of the gross leasable area (GLA) is leased to nationally recognized, internet-resistant retailers, ensuring a stable income stream. The property benefits from a complementary tenant mix and prominent pylon signage. Recent improvements include a new roof (90% of the building in 2023) and interior remodeling. The strategic location at the intersection of two major highways sees over 18,000 vehicles daily. Its proximity to Western New Mexico University (over 3,500 students) and numerous national retailers (including Walmart, Ace Hardware, Albertsons, and more) further enhances its appeal. The asking price is $1,655,000, representing a price per square foot well below replacement cost. This is a compelling opportunity for investors seeking a stable, high-yielding retail investment in a thriving New Mexico market.

Location Insight

City

Silver City

County

Grant

State

New Mexico

Latitude

32.7806

Longitude

-108.275

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